The announcement of a married couples tax allowance by the Prime Minister last month has been billed as a ‘shocking waste of money’. The tax will apply to married couples who both pay basic tax, one of whom is earning less than the personal allowance amount. It is estimated that 4 million couples could potentially benefit from 2015.
The Prime Minister tweeted;
The £1,000 marriage tax allowance will apply to straight and gay couples, as well as civil partners. Love is love, commitment is commitment.
Gingerbread Chief Executive, Fiona Weir has said;
Introducing a marriage tax break is a shocking waste of money. Child poverty in the UK is set to rise by a further one million by 2020. The £600 million a year that will go to just one in three married couples could – and should – be spent instead on helping families of all shapes and sizes to make ends meet. ”A quarter of all families are headed by single parents and one in six by cohabitating couples – but this tax break won’t help them, or married couples where both parents earn enough to pay tax. Modern families come in all shapes and sizes and the government should support them all, not just a select group.